PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,816 shares of the company’s stock after selling 11,610 shares during the quarter. TD Asset Management Inc’s holdings in PDD were worth $12,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of PDD by 1.1% during the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after purchasing an additional 348,997 shares in the last quarter. Norges Bank purchased a new stake in PDD during the 2nd quarter worth approximately $962,785,000. Sanders Capital LLC lifted its holdings in PDD by 21.5% during the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after buying an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC boosted its position in PDD by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares during the period. Finally, Krane Funds Advisors LLC boosted its position in PDD by 25.5% in the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock valued at $792,431,000 after buying an additional 1,247,634 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD opened at $103.73 on Monday. The firm has a fifty day moving average price of $108.35 and a 200 day moving average price of $119.36. The stock has a market cap of $144.41 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.95 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Finally, Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PDD has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.